Speaker of the House Kevin McCarthy (R-Calif.) rejected President Joe Biden’s demand that Congress increase the nation’s debt ceiling without attaching any conditions such as the spending cuts that virtually all congressional Republicans are demanding. In an informal news conference with reporters just outside the Capitol, McCarthy said “we’re six months away, approximately, and what […]
WASHINGTON—The federal budget deficit hit an all-time high of $3.1 trillion in the 2020 budget year, more than double the previous record, as the coronavirus pandemic shrank revenues and sent spending soaring. The Trump administration reported Friday that the deficit for the budget year that ended on Sept. 30 was three times the size of […]
Australian couples with children earning mid-range or high incomes would be the biggest winners from tax changes in the latest federal budget, according to new modelling. Five metropolitan electorates based in Sydney will also receive the greatest overall benefit when the staged reforms are complete. By contrast, constituents in a swag of regional seats will […]
